Animation is complete, what now?
First you have to select the output format, if you select image file format (PNG, JPG,...) every frame of the animation will be saved as single image, on the other side if you select video format (H.264,...) animation will be saved as video. The destination of the saved video or frame images is specified by the output path.

It is recommended to render the animation as images and then make video using the Video Sequencer, because if something happens halfway rendering the animation you can start it again from the last rendered frame, which is not possible when the output format is video.